Ontario Teachers Pension Plan Board Decreases Stake in Progyny, Inc. (NASDAQ:PGNY)

Ontario Teachers Pension Plan Board cut its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 10.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,122 shares of the company’s stock after selling 1,332 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Progyny were worth $186,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PGNY. Vanguard Group Inc. grew its stake in Progyny by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after purchasing an additional 41,687 shares during the last quarter. International Assets Investment Management LLC boosted its position in Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after buying an additional 2,412,068 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares during the period. Dimensional Fund Advisors LP raised its position in Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after buying an additional 254,725 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in Progyny by 15.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after acquiring an additional 132,672 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Price Performance

Shares of PGNY stock opened at $15.44 on Friday. The stock has a 50 day simple moving average of $16.40 and a 200-day simple moving average of $22.74. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $42.08. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.65 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Progyny, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PGNY. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Jefferies Financial Group reduced their price target on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.42.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.